TESARO (TSRO) Given New $39.00 Price Target at Bank of America

TESARO (NASDAQ:TSRO) had its price objective hoisted by Bank of America from $38.00 to $39.00 in a research note published on Friday. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on TSRO. Oppenheimer set a $83.00 price objective on TESARO and gave the company a buy rating in a report on Thursday. BidaskClub raised TESARO from a buy rating to a strong-buy rating in a research report on Friday, October 19th. Wedbush lifted their target price on TESARO from $60.00 to $67.00 and gave the company an outperform rating in a research report on Friday. Cowen reissued a hold rating and issued a $38.00 target price on shares of TESARO in a research report on Friday. Finally, ValuEngine lowered TESARO from a buy rating to a hold rating in a research report on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. TESARO presently has an average rating of Buy and a consensus target price of $78.00.

Shares of NASDAQ:TSRO traded down $1.58 during trading on Friday, hitting $30.30. 3,574,718 shares of the company’s stock traded hands, compared to its average volume of 1,868,444. TESARO has a 52 week low of $25.62 and a 52 week high of $113.75. The company has a current ratio of 4.11, a quick ratio of 3.64 and a debt-to-equity ratio of 3.74.

TESARO (NASDAQ:TSRO) last released its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($2.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.62) by $0.13. TESARO had a negative return on equity of 563.59% and a negative net margin of 295.67%. The business had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $71.84 million. During the same quarter in the previous year, the business posted ($0.47) EPS. TESARO’s revenue for the quarter was down 54.9% on a year-over-year basis. As a group, sell-side analysts anticipate that TESARO will post -11.15 EPS for the current year.

In other TESARO news, Director Arnold L. Oronsky sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $26.77, for a total transaction of $267,700.00. Following the transaction, the director now owns 12,479 shares of the company’s stock, valued at approximately $334,062.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 10,443 shares of company stock worth $283,996 in the last ninety days. Insiders own 33.70% of the company’s stock.

Several large investors have recently bought and sold shares of TSRO. US Bancorp DE increased its position in shares of TESARO by 163.5% during the 3rd quarter. US Bancorp DE now owns 3,940 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 2,445 shares during the last quarter. Skylands Capital LLC acquired a new position in shares of TESARO during the 2nd quarter worth approximately $182,000. New Jersey Better Educational Savings Trust acquired a new position in shares of TESARO during the 3rd quarter worth approximately $234,000. Stifel Financial Corp acquired a new position in shares of TESARO during the 1st quarter worth approximately $241,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of TESARO during the 2nd quarter worth approximately $257,000.

About TESARO

Tesaro, Inc, an oncology-focused biopharmaceutical company, identifies, acquires, develops, and commercializes cancer therapeutics and oncology supportive care products in the United States. It offers ZEJULA (niraparib), an orally active and potent poly polymerase inhibitor for the maintenance treatment of women with recurrent epithelial ovarian, fallopian tube, or primary peritoneal cancer; and VARUBI (rolapitant), a neurokinin-1, or NK-1, receptor antagonist for the prevention of chemotherapy induced nausea and vomiting.

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